We may consider resistance 114-115 whereas the support in near term 109-108 range . In either side added open interest with volume will invite one side move.
Last week we mentioned that profit booking is expected in this counter and this counter falls till 111.70. Now a pull back rally will emerge in this counter and can go up till 114 and then 115.
On the domestic front, Aluminium is trading higher in future trade today on a firming trend in other base metals overseas amid better-than-forecast US industrial output.
At MCX future, Aluminium for February contract is trading at Rs 113.40, up by 0.04 per cent and Aluminium for March contract is trading at Rs 114.50 up by 0.17 per cent. (At 11:36 A.M today)
Aluminium taken very strong support at 110. Its upside rally till 114 is expected. Downside it can fall till 109.40.
Downside it can fall till 108.40. We mentioned yesterday and aluminium falls till 108.30.